Y Intercept Hong Kong Ltd Purchases 4,819 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Y Intercept Hong Kong Ltd lifted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 158.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,863 shares of the company’s stock after acquiring an additional 4,819 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fomento Economico Mexicano were worth $810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Fomento Economico Mexicano during the first quarter worth $29,000. Farther Finance Advisors LLC raised its position in shares of Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after acquiring an additional 108 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Fomento Economico Mexicano during the first quarter worth $51,000. Brooklyn Investment Group raised its position in shares of Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock worth $70,000 after acquiring an additional 382 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Fomento Economico Mexicano by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock worth $79,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Barclays decreased their target price on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Trading Down 2.0%

Shares of FMX stock opened at $92.24 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $33.00 billion, a P/E ratio of 37.19, a P/E/G ratio of 5.54 and a beta of 0.72. The stock’s fifty day simple moving average is $93.13 and its 200 day simple moving average is $97.39.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The firm had revenue of $11.71 billion for the quarter, compared to the consensus estimate of $215.60 billion. As a group, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were issued a dividend of $1.9982 per share. This represents a $7.99 annualized dividend and a yield of 8.7%. The ex-dividend date was Thursday, October 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 89.92%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.